Power stock to buy: Shares of government company Bharat Heavy Electricals Limited (BHEL) are in focus. Market analysts are cautious about this stock. Brokerage firm HSBC has maintained a ‘sell’ rating on BHEL with a target of Rs 72. Today, on Thursday, this stock reached an intraday high of Rs 280.45. However, later there was profit booking in it and it closed down by 2%. That is, according to today’s price, this power stock may fall by about 75%. Let us tell you that this company has climbed by almost 100% in a year.
10 analysts have given advice to sell
However, some other market analysts believe that if the stock falls further, then it can be bet on it as it is likely to strengthen again after that. BHEL shares are down 20% from the recent high of ₹ 335. Let us tell you that out of 17 analysts covering BHEL, 10 have advised ‘sell’ on the stock. In this, HSBC’s target of ₹ 72 is the lowest, followed by Kotak Securities’ target of ₹ 100.
Recently got the contract from Adani
Let us tell you that recently Bharat Heavy Electricals Limited has got a contract of more than Rs 11,000 crore to set up three power projects. GST is not included in this amount. Bharat Heavy Electricals Limited informed BSE that BHEL has signed a contract with Adani Power and its subsidiary company (Mahaan Energean Limited) on August 25 for the supply and installation of equipment (boiler, turbine, generator) for three power projects and the processes of commissioning it. According to the company information
A share of ₹13 is making you rich every day, today it hit an upper circuit of 20%, this is the effect of this big announcement
This stock fell 90% to ₹ 37, the company is about to go bankrupt, now new information has been given
The value of these three contracts is more than Rs 11,000 crore, excluding GST.
(Disclaimer: The information given here is based on the brokerage firm. Investing in the stock market is subject to risk and please consult your advisor before investing or selling.)
